Bermuda-based Aspen Insurance Holdings Limited announced today it is entering the global excess casualty insurance market with a dedicated underwriting unit based in Dublin.

Aspen said the unit will focus on construction and global risk managed programs. It added that a notification has been made to the UK Financial Services Authority under a European passport, to establish a branch in Dublin.

By late November, Aspen said it anticipates commencing underwriting, subject to meeting the necessary regulatory requirements.

The firm said its Dublin team will be led by Bob Patten, who has more than 15 years of experience underwriting excess casualty. Mr. Patten is to join Aspen on Nov. 15.

Aspen said it anticipates that within three years the Dublin branch will generate gross written premiums of around $70 million and employ up to 10 staff.

Chris O'Kane, Aspen's chief executive officer, explained that opening a Dublin office “reflects Aspen's strategy of continuing to selectively diversify our business portfolio and complements our existing operations in specialty casualty insurance within our Specialty Lines segment.”

Aspen Insurance UK Limited trades under the names of Aspen Insurance and Aspen Re, writing a range of specialty insurance and reinsurance lines. Aspen Re is a wholly owned subsidiary of Aspen Insurance Holdings Limited

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Aspen Opens Dublin Branch

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